China Tungsten Price Maintains Stabilization Amidst Standstill in Early January 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remain in a phase of stabilization with a standstill post the New Year. The market continues to exhibit caution, with mining maintaining resilience and purchasers adopting a wait-and-see approach, resulting in limited surprises and heightened observation.

According to practical surveys by Chinatungsten Online, overseas clients have initiated a new round of procurement following Christmas, while domestic clients are gradually building expectations for pre-Chinese New Year stocking. The tungsten market, especially the support for tungsten raw materials, remains resilient, driven by the pressure of observing the basic fundamentals and macroeconomic uncertainties.

The price of tungsten concentrates stays around $17,571.4/ton. While traders express intentions to sell, the overall stability sentiment prevails. Although support from end consumers may be slightly insufficient, amid the expansion of production capacity in intermediate smelting products and hard alloy, the tungsten ore resource remains relatively tight, supporting high-level quotations.

APT (Ammonium Paratungstate) prices remain stagnant at $293.8/mtu. The actual negotiations are relatively under pressure as market resource circulation is hindered. The downstream consumption enthusiasm is not optimistic, with cost-side support maintaining the bottom of the market. Overall, there is still significant pressure from inversion.

Tungsten powder prices are consolidating around $39.0/kg. Orders from the hard alloy sector remain inactive, traders exhibit strong wait-and-see sentiments, and market negotiations revolve around just-in-demand, with a mindset of adapting to the market.

Prices of tungsten products on January 15, 2024

Picture of tungsten acid 

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